Business
Aura Announces Definitive Agreement for Jefferson Canyon Project, Nye County, Nevada / Initial Rock Sampling Confirms Presence of High-Grade Gold and Silver
Ottawa, Ontario--(Newsfile Corp. - June 4, 2019) - Aura Resources Inc. (TSXV: AUU) ("Aura" or ...
About this update from West Point Gold Corp.
[{"type":"text","content":"Aura Announces Definitive Agreement for Jefferson Canyon Project, Nye County, Nevada / Initial Rock Sampling Confirms Presence of High-Grade Gold and SilverOttawa, Ontario--(Newsfile Corp. - June 4, 2019) - Aura Resources Inc. (TSXV: AUU) (\"Aura\" or the \"Company\") announces that it has entered into an arm's length definitive option agreement (the \"Agreement\") with Thorsen-Fordyce Merchant Capital Inc. (\"Thorsen\") and TF Minerals (USA) Inc. (together the \"TF Parties\") to earn a 100% interest in the Jefferson Canyon gold-silver project (\"JCP\") in southern Nevada. This follows successful completion of the Company's due diligence including an initial sampling program during the exclusivity period previously announced on March 4, 2019 (see Press Release #19-03). The Agreement covers 57 unpatented claims located about 9 km northeast of Kinross' Round Mountain gold mine (see location photo). The JCP contains a large volcanic-hosted epithermal Au-Ag system that is similar in age to the nearby Round Mountain deposit, a world-class low-sulfidation (LS) epithermal deposit. Both are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending structural control to veins.Location photoTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/5717/45267_3694014f744eaba7_001full.jpgRobert Johansing, President and CEO of Aura, states, \"We are very pleased to conclude the Agreement for Jefferson Canyon which is a large and exciting epithermal system. Our due diligence program was intended to develop a general feeling for the geology and physiography of the area along with confirming gold and silver values where historical RC drilling identified significant, shallow enrichment (see PR #19-03). Our three rock samples from the B Zone contained from 2.98 to 26.1 g/t Au and 160.4 to 2,975 g/t Ag in subtle quartz veining and flooding of the rhyolite tuffs. Although historical reports refer to this area as the gold-rich zone, the results indicate very anomalous silver values as well. The next phase of work will expand surface sampling along what is suspected to be a north-trending zone measuring about 500 metres wide and up to 2 kilometres long based upon historical reconnaissance samples.\"Rock Sample ResultsThe rock sampling conducted during due diligence...